The Wyckoff Wave Digested The Weeks Previous Gains

Our Cryptocurrencies & Wyckoff Online Course is now being offered at an affordable $199 if you use the code “feb199” at checkout.  This course will not be offered at this price much longer as we are adding lessons on O-P, Force, and Technometer soon.

This past week the Wyckoff Wave traded sideways and finished the week with slight losses.  Volume declined slightly on the week.

The Technometer began the week slightly above neutral, and finished the week slightly below neutral.

For the week the S&P was up .54%, and the Nasdaq 1.35%.


The Wave spent the week digesting its gains of the previous week.

The O-P has not rallied at all since the short term lows of Feb 5th.   This is showing there is not much buying behind the recent surge.

The Force Index also continues to show slight relative weakness to the Wave and continues to apply pressure to the downside.

The Technometer finished the week trading slightly below neutral levels and will need a much further rally in the Wave to take it near overbought levels.

The one year daily chart shows the Wyckoff Wave finding support at the light blue support line, and then traded through the overbought line of the same uptrend.   Last week it then held support above the overbought line of the light blue uptrend.  It appears the Wave could be in a sideways trading range with the boundaries of 51,000-57,000 in the weeks ahead.
The Technometer did not return to overbought this week, and will not reach that level easily this week.  We will look for a place to go short if the Technometer will get closer to an overbought reading sometime in the coming week.

The Wyckoff Wave Growth Index (WWG) continued its rally of the previous week.  Volume was at lower levels still.
The Technometer is trading near overbought levels and will get there quickly on any further rally.  We had expected a rally in this market to relieve the oversold condition of the Technometer, so we would look to reenter shorts on any further rally with an overbought Technometer.

The bond market traded sideways for the week.  The oversold Technometer has not given us much of a rally off of the lows, only sideways.
TLT continues to trade near its oversold line of its downtrend shown in purple.  We have lower objectives from the point and figure chart so we are staying short this market.  We would add on any further rally in the week with a corresponding overbought Technometer.

IMPORTANT ANNOUNCEMENT:  This week we will be launching our “Pulse of The Market” for Cryptocurrrencies.  This software will have consolidated volume for the Crypto’s which will be most important when applying Technical Analysis.
Due to the demand for Bitcoin/Cryptocurrency information and trading knowledge, we released a Cryptocurrency and Wyckoff Trading Course at our site,   This course is now being offered at an affordable $199.99 by using code “feb199” at checkout.  We have had 890 students enroll in the last 32 weeks.   
If you are interested in Cryptocurrency news and Wyckoff chart analysis, search “Crypto News” or click this link
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Good Trading,

Todd Butterfield

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